nonplussed

Ever since I resigned myself to the fact that Al Gore would not be running for president this cycle I've been struggling to decide upon a candidate to vote for in the California primary. Now I know.

Yesterday Chris Dodd announced that he was going to exercise a Senate rule to block the FISA "compromise". The main objection is that the bill grants retroactive immunity to telecom companies facing felony prosecutions for turning over private information regarding their customers to the govenment.

Finally a Democrat with spine. Dodd has my vote.

host

Residential real estate is on the eve of a valuation delcine that the chair of the senate banking committee, Dodd, does not even see:


NO SALES IN SOUTH SAN JOSE RE MARKET IN PAST 50 days....JUST 9 SALES IN PAST 80 DAYS...AS AN EXAMPLE....
http://www.southsanjose.com/realtren...ef=patrick.net

Dodd is either too dull to understand that these subprime bagholders need to exit these mortgage now.....A-effing-SAP...the last thing they need is to be chained to a mortgages....even at more favorable terms, that they already have a negative equity position in (it's called UPSIDE DOWN on your loan...), and...if any sales are ever to occur again...will pressure a 30 to 60 percent reduction in valuations..... I can't vote for a guy for president who would trap these poor bastards in their loans...either because he is too stupid to know better, or for his own political expediency.....His FISA stance, though....is a refreshing glimmer of populist support.

Willravel

So far Kucinich is my favorite Dem, but Dodd isn't bad especially considering this move. This does improve my impression of one Dem.

host

will....if Dodd only served on the banking committee...I'd be inclined to agree with you....but he's the chairman....and he is on record....saying since march...that he supports keeping the weakest (financially) bagholders in these mortgages, when they had no equity at the closing, and negative equity now.

He acts as if he is a populist....supporting these underdogs....victims of predatory lenders....as he actually uses them in an attempt to delay inevitable foreclosure waves.....valuation killing, but necessary for eventual housing industry recovery.

He should know that the best thing for these poor credit risk, upside down "homeowners"....is for them to leave these mortgages and residences.....now, as their loans will never be viable.....they'll sacrifice....struggling to pay on mortgages tweaked to prop up valuations......not to help these household's financial positions.....it's a crime that Dodd is pushing on these folks....or he is clueless.....neither is a good quality for a president who will face the coming US challenges.....

Willravel

Of course, but he's not all bad. Compare him to some of the more corrupt Dems and he's tame. Whether this is true because he's running? Hard to say.